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April 5, 2022

Swiss Life secures key regulatory approval for elipsLife deal

Swiss Life International Holding (Swiss Life) has secured a key regulatory approval for the acquisition of Elips Life (elipsLife) and the accident and health insurance portfolio of Elips Versicherungen (EVAG).

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The proposed acquisition was approved by the European Commission after it concluded that the deal would not harm competition.

In a statement, the commission said: “The Commission concluded that the proposed acquisition would raise no competition concerns, given the companies’ moderate combined market positions resulting from the proposed transaction and the presence of a number of strong players providing asset management services in all relevant countries.”

The approval comes nearly four months after Swiss Re announced plans to sell its life insurance subsidiary elipsLife to Swiss Life.

The financial terms of the acquisition were not disclosed.

elipsLife and EVAG offer a range of insurance products to institutional clients. The companies operate in Austria, Belgium, Germany, Italy, Liechtenstein, the Netherlands and Switzerland.

At the time of announcement, Swiss Re Corporate Solutions CEO Andreas Berger said: “The sale will allow Corporate Solutions to focus on continuing the strong performance of our core commercial insurance business. At the same time, Swiss Re will keep exposure to an attractive risk pool via a long-term reinsurance partnership with Swiss Life.”

The deal is expected to close in the first half of this year.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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